Asked by: Rebecca Long Bailey (Labour - Salford and Eccles)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, if she will publish the evidential basis on which the value of the fixed and final offer for Horizon Convictions Redress Scheme claimants was set at £600,000.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
The Government is regularly publishing data on the redress paid out across the Horizon work-streams. The fixed sum awards for the Group Litigation Order (GLO) scheme and for overturned convictions have been set at a level that is likely to be generous for a significant proportion of claims, allowing them to be resolved promptly. However, it will not suit everyone and anyone who wishes to pursue the full claims process is able to do so.
The Horizon Shortfall Scheme fixed sum is set at the same level as the GLO to ensure consistency between the two schemes.
Asked by: Rebecca Long Bailey (Labour - Salford and Eccles)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, if she will publish the evidential basis on which the value of the fixed sum award for the Horizon Shortfall Scheme claimants was set at £75,000.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
The Government is regularly publishing data on the redress paid out across the Horizon work-streams. The fixed sum awards for the Group Litigation Order (GLO) scheme and for overturned convictions have been set at a level that is likely to be generous for a significant proportion of claims, allowing them to be resolved promptly. However, it will not suit everyone and anyone who wishes to pursue the full claims process is able to do so.
The Horizon Shortfall Scheme fixed sum is set at the same level as the GLO to ensure consistency between the two schemes.
Asked by: Rebecca Long Bailey (Labour - Salford and Eccles)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, pursuant to the Answer of 21 December 2023 to Question 6822 on Companies: Registration, when the broader powers given to the Registrar under the Economic Crime and Corporate Transparency Act 2023 will come into effect; and whether her Department will provide additional resources to the Registrar to ensure it is able to use these powers.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
The reforms we are making to Companies House are significant, and we are adopting a phased approach to implementation. The new powers at the Registrar's disposal will come into effect over the coming months, with many being available to the Registrar from 4 March. Some others, such as ID verification, require secondary legislation and significant systems development, and will not take effect until later.
We are committed to ensuring the Registrar has the necessary resources to implement these changes.
Asked by: Rebecca Long Bailey (Labour - Salford and Eccles)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what checks Companies House carry out to ensure that businesses are not being registered fraudulently under incorrect addresses.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
The Registrar carries out checks to ensure filings are complete, but at present, she has limited powers to verify or validate the information which is delivered to her. Provided a document appears to be properly delivered, the Registrar must register it.
The Registrar will be given broader powers under the Economic Crime and Corporate Transparency Act so that she can become a more active gatekeeper over company registrations. This will include powers to check, challenge and refuse to register any information which is inaccurate or false whilst also ensuring any fraudulent addresses can be removed more easily.
Asked by: Rebecca Long Bailey (Labour - Salford and Eccles)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, whether she has made an assessment of the potential impact of hidden fees and charges on financial and digital transactions on (a) local economic activity, (b) national economic activity, (c) consumers and (d) household debt.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
Consumer law requires that all charges and fees are clear up front (including those related to consumer credit) and not hidden. Consumers then know what they will be paying and can make choices based between competitive suppliers on that basis. These rules are not driven by an assessment of economic activity nationally or locally but enable consumers to compare prices as they shop. Separately the Office for National Statistics and the Office for Budget Responsibility provide data on economic activity and household indebtedness.